SPDR MSCI Correlations

Etfs . USA . 
Etf . SPDR MSCI Emerging
EEMX Etf  USD 34.35  0.15  0.43%   
The current 90-days correlation between SPDR MSCI Emerging and SPDR MSCI Emerging is 0.95 (i.e., Almost no diversification). The correlation of SPDR MSCI is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR MSCI Correlation With Market

Good diversification

The correlation between SPDR MSCI Emerging and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI Emerging and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in SPDR MSCI Emerging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with SPDR Etf

  0.99VWO Vanguard FTSE EmergingPairCorr
  1.0IEMG iShares Core MSCIPairCorr
  0.78EMC Global X FundsPairCorr
  1.0EEM iShares MSCI EmergingPairCorr
  0.99SPEM SPDR Portfolio EmergingPairCorr
  0.98FNDE Schwab FundamentalPairCorr
  0.99ESGE iShares ESG AwarePairCorr
  0.97SFGRX Seafarer OverseasPairCorr
  0.84DGS WisdomTree EmergingPairCorr
  0.93XSOE WisdomTree EmergingPairCorr
  0.75FXY Invesco CurrencySharesPairCorr
  0.68PMBS PIMCO Mortgage BackedPairCorr
  0.87GDXU MicroSectors Gold MinersPairCorr
  0.7KO Coca ColaPairCorr
  0.7T ATT Inc Earnings Call TomorrowPairCorr
  0.68MCD McDonaldsPairCorr
  0.61DD Dupont De NemoursPairCorr
  0.69VZ Verizon CommunicationsPairCorr
  0.63INTC IntelPairCorr

Moving against SPDR Etf

  0.41WGMI Valkyrie Bitcoin MinersPairCorr
  0.38PFE Pfizer IncPairCorr
  0.48CAT CaterpillarPairCorr
  0.43AXP American ExpressPairCorr
  0.42MSFT MicrosoftPairCorr
  0.38DIS Walt DisneyPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
QEFA
+ 0.99
EFAX
QEFA
+ 0.97
EMTL
EMTL
+ 0.96
EFAX
EFAX
+ 0.61
QEMM
QEFA
+ 0.56
QEMM
EMTL
+ 0.46
QEMM
  
High negative correlations   
SPYX
- 0.49
EMTL
SPYX
- 0.47
QEFA
SPYX
- 0.36
EFAX

SPDR MSCI Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR MSCI ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SPDR MSCI's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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